App-only bank Monzo hit by tech problems for the second time in a week

Monzo CEO Tom Blomfield. Monzo LONDON — App-only banking startup Monzo has been hit by technical problems for the second time in a week.

The two-year-old startup currently offers a pre-paid card linked to an app, which lets people monitor their spending, upload money, and send money to friends.

Monzo told users on Tuesday night that it was having a problem with payments not displaying correctly in the app. As of 10.20 a.m. GMT (5.20 a.m. ET) on Wednesday, the startup's engineers are still working on the issue.

Another problem arose on Wednesday morning, with reports of Monzo's Android app crashing on launch. [UPDATE:Monzo fixed the Android problem pretty quickly — it was flagged at 10.10 a.m. GMT (5.10 a.m. ET) but by 10.50 a.m. GMT (5.50 a.m. ET) an update was released in the Play Store that fixes the bug.]

Monzo said in a statement to its 120,000 users:

"Our engineers are working toward fixing the problem, but transactions continue to be displaying in the app incorrectly. This remains an in-app display problem and your card will work as normal 💳 ✅

"We thank you for your continued understanding and patience and we'll continue to update you with any developments."